2021-12-31-accounts

Reference and Administrative Details
Trustees' Report	2to6
Independent Auditors' Report	7to 10
Consolidated Statement of Financial Activities	11to 12
Consolidated Balance Sheet	13
Balance Sheet	14
Consolidated Statement ofCash Flows	15
Notes to the Financial Statements	16to 36

			Unrestricted	funds	Restricted	Total
			Designated	General	funds	2021
		Note	E	E	f	f
Income and Endowments		from:
Donations and legacies		3		951,163	5,454	956,617
Charitable activities		4		11,600		11,600
Investment income				16		16
Other income				3,604,350		3,604,350
Totallncome				4,567,129	5,454	4,572,583
Expenditure on:
Raising funds				(2,785,535)		(2,785,535)
Charitable activities				(1,076,820)	(14,592)	(1,091,412)
Other expenditure				(141,610)		(141,610)
Tota I Expenditure				(4,003,965)	(14,592)	(4,018,557)
Net income/(expenditure)				563,164	(9,138)	554,026
Transfers between	funds		150,000	(150,000)
Net movement in funds			150,000	413,164	(9,138)	554,026
Reconciliation offunds
Total funds brought
forward				776,151	189,329	965,480
Total funds carried	forward	24	150,000	1,189,315	180,191	1,519,506

STATEMENT O	F TOT	AL RECOG	NISED GAI	NS AND LOSS	ES)
				Unrestricted
				funds	Restricted	Total
				General	funds	2020
			Note	f	E	E
Income and Endowments		from:
Donations and legacies				1,554,725	189,329	1,744,054
Charitable activities				29,600		29,600
Investment income				22		22
Other income				1,495,288		1,495,288
Totallncome				3,079,635	189,329	3,268,964
Expenditure on:
Raising funds				(1,918,659)		(1,918,659)
Charitable activities				(791,593)		(791,593)
Other expenditure				(184,847)		(184,847)
Tota I Expenditure				(2,895,099)		(2,895,099)
Net income				184,536	189,329	373,865
Net movement in funds				184,536	189,329	373,865
Reconciliation offunds
Total funds brought	forward			591,616		591,616
Total funds carried	forward		24	776,152	189,329	965,481

AS AT31DEC	E	MBER 2021
				2021	2020
			Note	f	f
Fixed assets
Tangible assets			15	4,763,860	4,914,676
Current assets
Stocks			17	132,024	99,722
Debtors			18	271,686	613,957
Cash at bank and	in	hand	19	1,135,357	250,105
				1,539,067	963,784
Creditors: Amounts		falling due within one year	20	(1,067,953)	(1,351,715)
Net current assets/(liabilities)				471,114	(387,931)
Total assets less current liabilities				5,234,974	4,526,745
Creditors: Amounts		falling due after more than one year		(3,255,468)	(3,561,264)
Provisions			22	(460,000)
Net assets				1,519,506	965,481
Funds ofthe group:
Restricted income funds
Restricted funds				180,191	189,329
Unrestricted income		funds
Designated Funds				150,000
General Funds				1,189,315	776,152
Total unrestricted	funds			1,339,315	776,152
Total funds			24	1,519,506	965,481

AS AT31	DECE	MBE	R 2021
					2021	2020
				Note	f	f
Fixed assets
Tangible assets				15	4,719,343	4,880,944
Investments					1	1
					4,719,344	4,880,945
Current assets
Debtors				18	77,955	520,106
Cash at bank	and in hand			19	802,333	241,672
					880,288	761,778
Creditors: Amounts		falling due within one year		20	(359,048)	(540,759)
Net current	assets				521,240	221,019
Total assets	less current		liabilities		5,240,584	5,101,964
Creditors: Amounts		falling due after more than one year			(3,255,468)	(3,561,264)
Provisions				22	(460,000)
Net assets					1,525,116	1,540,700
Funds ofthe	charity:
Restricted income funds
Restricted funds					180,191	189,329
Unrestricted	income	funds
Unrestricted	funds				1,344,925	1,351,371
Total funds				24	1,525,116	1,540,700

FOR THE YEAR ENDE	D 31DECEM	BER 2021
				2021	2020
			Note	f	f
Cash flows from operating	activities
Net cash income				554,026	373,865
Adjustments to cash flows	from non-cash	items
Depreciation			7,9	220,809	212,485
Investment income				(16)	(22)
Loss/(profit) on disposal oftangible fixed assets				1,703	(8,992)
				776,522	577,336
Working capital adjustments
Increase in stocks			17	(32,302)	(26,279)
Decrease/(increase) in debtors			18	342,271	(408,750)
Decrease in creditors			20, 21	(41,016)	(585,188)
Increase in provisions			22	460,000
(Decrease)/increase in deferred income			21	(283,589)	125,202
Net cash flows from operating activities				1,221,886	(317,679)
Cash flows from investing	activities
Interest receivable and similar income			5	16	22
Purchase oftangible fixed	assets		15	(72,282)	(44,025)
Sale oftangible fixed assets				585	9,000
Transfer oftangible assets	at net book value				(62,553)
Net cash flows from investing activities				(71,681)	(97,556)
Cash flows from financing	activities
Repayment ofloans and borrowings			20, 21	(264,953)	376,557
Net increase/(decrease) in	cash and cash equivalents			885,252	(38,678)
Cash and cash equivalents	at 1January			250,105	288,783
Cash and cash equivalents	at 31December			1,135,357	250,105

estimated resi	dual value, over their expected	useful economic life as follows:
Asset class		Depreciation method		and rate
Museum		20to 50years straight		line
Infrastructure	and buildings	20to 50years straight		line
Office fixtures	and equipment	5to10years straight	line
Rolling Stock		10to 50years straight		line
Plant and machinery		10to 50years straight		line

3	Income	f	ro	m d	onations	and lega	cies
							Unrestricted
							funds	Restricted	Total	Total
							General	funds	2021	2020
							f	f	f	f
Donations		and		legacies;
	Donations		from		companies,
	trusts and		similar proceeds				8,091	5,454	13,545	870,111
	Donations		from		individuals		96,384		96,384	174,632
	Legacies						66,483		66,483	51,000
Grants, including					capital grants;
	Government			grants			780,205		780,205	648,311
							951,163	5,454	956,617	1,744,054
4	Income	from charitable				activities
								Unrestricted
								funds	Total	Total
								General	2021	2020
								f	f	f
	Education							11,600	11,600	29,600
5	Investment			income
								Unrestricted
								funds	Total	Total
								General	2021	2020
								f	f	f
Interest receivable					and similar income;
	Interest receivable on bank deposits							16	16	22

		Unrestricted
		funds	Total	Total
		General	2021	2020
		E	f	f
Pub sales		473,224	473,224	290,991
Refreshments	and catering	758,144	758,144	157,636
Shops and stalls		68,831	68,831	4,570
Fares and charters		844,956	844,956	243,762
Santa events		968,926	968,926	92,759
Footplate experience		1,117	1,117	12,112
Other rolling stock income		50,749	50,749	9,659
Miscellaneous	income	126,239	126,239	136,267
Hire oflocomotives		600	600
Otherincome		100,000	100,000
Rental income		29,233	29,233	31,093
Furlough income		182,331	182,331	516,439
		3,604,350	3,604,350	1,495,288

					Unrestricted
					funds	Total	Total
					General	2021	2020
				Note	E	E	f
Wages - generating		funds			45,427	45,427	44,523
Computer	software	and maintenance	costs		3,423	3,423	1,239
Printing,	postage and stationery				1,116	1,116	675
Trade subscriptions					2,582	2,582	900
					52,548	52,548	47,337

			Unrestricted
			funds	Total	Total
			General	2021	2020
			f	f	f
Opening stock			99,722	99,722	73,443
Materials			192,711	192,711	66,071
Pub purchases			231,405	231,405	154,712
Refreshments and catering			325,925	325,925	80,902
Shops and stalls			38,537	38,537	101,597
Special events			213,160	213,160	56,118
Footplate experience					1,099
Closing stock			(132,024)	(132,024)	(99,722)
Wages and salaries			828,157	828,157	870,056
Commissions payable			80,310	80,310	59,029
Miscellaneous direct costs			8,664	8,664
Line operating charges			214,678	214,678	102,989
Rent and rates			50,512	50,512	31,746
Light, heat and power			93,746	93,746	63,774
Repairs and maintenance			187,888	187,888	108,257
Telephone and fax			14,075	14,075	15,313
Computer software and maintenance		costs	36,339	36,339	9,169
Printing, postage and stationery			9,152	9,152	8,684
Courier services			3,233	3233	1,909
Trade subscriptions			7,438	7,438	2.333
Equipment hire			14,907	14,907	12,471
Lease ofmotor vehicles (Operating	leases)		2,021	2,021
Sundry expenses			28,451	28,451	29,514
Laundry and cleaning			34,017	34,017	22,640
Travel and subsistence			17,871	17,871	8,266
Promotional expenses			86,799	86,799	53,891
Legal and professional fees			11,622	11,622	24,866
Bad debts written off			20,991	20,991
Bank charges			12,680	12,680	12,195
			2,732,987	2,732,987	1,871,322

			Unrestricted
			funds	Restricted	Total	Total
			General	funds	2021	2020
		Note	f	f	f
Education						31,413
Restoration	and
repair			712,440		712,440	364,706
Depreciation,
amortisation	and
other similar	costs		204,513	14,592	219,105	203,493
Staff costs			141,933		141,933	179,339
Governance	costs	10	17,934		17,934	12,642
			1,076,820	14,592	1,091,412	791,593

9 Other expenditure
			Unrestricted
			funds	Total	Total
			General	2021	2020
		Note	f	f	E
Insurance			62,414	62,414	94,838
Security costs			49,652	49,652	73,774
Sundry expenses					5,470
Legal and professional	fees		5,945	5,945
Bank charges			4,257	4,257
Bank interest payable			253	253	83
Bank loan interest payable			19,089	19,089	10,682
			141,610	141,610	184,847

Governance	costs	costs
						Unrestricted
							funds		Total			Total
							General		2021			2020
							f		f				f
Audit fees
Audit ofthe		financial statements					11,130		11,130				9,692
Other fees	paid to auditors						6,804		6,804				2,950
							17,934		17,934				12,642
11Net incoming/outgoing				resources
Net (outgoing)/incoming			resources		for the year	include:
									2021			2020
									f				f
Audit fees									11,130				9,692
Loss/(profit)	on disposal		of	tangible	fixed assets				1,703				(8,992)
Depreciation		offixed assets							220,808				212,485
12Staff costs
The aggregate		payroll costs		were as follows:
									2021			2020
									f				f
Staff costs during the year				were:
Wages and salaries									1,245,493			1,430,428
Pension costs									22,464				23,502
									1,267,957			1,453,930
The monthly		average	number of persons			(including	senior	management		/	leadership		team)
employed by		the group during the year expressed as full					time equivalents		was as	follows:
									2021			2020
									No				No
Administration		and support								58			60

15Tangible	fixed assets
		Bury
Group		transport	Infrastructure		Fixtures and	Plant and
		museum	and buildings	Rolling stock	equipment	machinery	Total
		E	E	E	E	E	E
Cost
At 1January	2021	3,374,899	1,306,761	2,035,663	324,884	396,290	7,438,497
Additions		3,888	14,985		46,359	7,050	72,282
Disposals			(2,375)	(1,600)		(4,042)	(8,017)
Transfers			91,258		(91,258)
At 31December 2021		3,378,787	1,410,629	2,034,063	279,985	399,298	7,502,762
Depreciation
At 1January	2021	652,600	550,806	818,817	190,050	311,548	2,523,821
Charge for the year		67,507	63,339	61,196	13,417	15,350	220,809
Eliminated on disposals			(86)	(1,600)		(4,042)	(5,728)
Transfers			34,495		(34,495)
At 31December 2021		720,107	648,554	878,413	168,972	322,856	2,738,902
Net book value
At 31December 2021		2,658,680	762,075	1,155,650	111,013	76,442	4,763,860
At 31December 2020		2,722,299	755,955	1,216,846	134,834	84,742	4,914,676

Charity
	Bury
	transport	Infrastructure		Fixtures and	Plant and
	museum f	and buildings	Rolling stock E	equipment	machinery E	Total f
Cost
At 1January 2021	3,374,899	1,306,761	2,035,663	196,788	396,290	7,310,401
Additions	3,888	14,985		31,575	7,050	57,498
Disposals		(2,375)	(1,600)		(4,042)	(8,017)
Transfers		91,258		(91,258)
At 31December 2021	3,378,787	1,410,629	2,034,063	137,105	399,298	7,359,882
Depreciation
At 1January 2021	652,600	550,806	818,817	95,686	311,548	2,429,457
Charge for the year	67,507	63,339	61,196	9,418	15,350	216,810
Eliminated on disposals		(86)	(1,600)		(4,042)	(5,728)
Transfers		34,495		(34,495)
At 31December 2021	720,107	648,554	878,413	70,609	322,856	2,640,539
Net book value
At 31December 2021	2,658,680	762,075	1,155,650	66,496	76,442	4,719,343
At 31December 2020	2,722,299	755,955	1,216,846	101,102	84,742	4,880,944

ofshare capital are as f	ollows:
	Country of		Proportion ofvoting	Principal
Undertaking	incorporation	Holding	rights and shares held	activity
			2021 2020
Subsidiary undertakings
East Lancashire Railway Limited	England	Ordina ry E1	100% 100%	light railway operator

17Stock
		Group		Charity
		2021	2020	2021
		f	f	f
Stocks		132,024	99,722
18Debtors
	Group		Charity
	2021	2020	2021	2020
	f	f	f	f
Trade debtors	112,028	49,718
Pre payments	37,270	26	33,202
Other debtors	122,388	564,213	44,753	520,106
	271,686	613,957	77,955	520,106
19Cash and cash equivalents
	Group		Charity
	2021	2020	2021	2020
	f	f	f	f
Cash on hand	5,902	8,433
Cash at bank	1,129,455	241,672	802,333	241,672
	1,135,357	250,105	802,333	241,672
20 Creditors: amounts	falling due within one year
	Group		Charity
	2021 f	2020 f	2021 f	2020f
Bank loans		59,096		59,096
Trade creditors	444,521	428,146
Otherloans	81,454	56,515	80,000	53,333
Due to group undertakings			265,131	379,309
Other taxation and social
security	3,202	31,501	3,202	31,502
Other creditors	4,541	15,091	3,741	13,519
Accruals	199,167	217,709	6,974	4,000
Deferred income	335,068	543,657
	1,067,953	1,351,715	359,048	540,759

	Group		Charity
	2021	2020	2021	2020
	f	f	E	E
Bank loans		157,462		157,462
Other loans	273,333	346,667	273,333	346,667
Deferred income	2,982,135	3,057,135	2,982,135	3,057,135
	3,255,468	3,561,264	3,255,468	3,561,264

Provision	Total
f	f
460,000	460,000

Group
								Balance at 31
				Balance at 1	Incoming	Resources		December
				January 2021	resources	expended	Transfers	2021
				E	E	E		E
Unrestricted	funds
General
General Funds				776,151	4,492,129	(3,928,965)	(150,000)	1,189,315
Designated
Locomotive	refurbishment		reserve				150,000	150,000
Total unrestricted		funds		776,151	4,492,129	(3,928,965)		1,339,315
Restricted funds
Education				62,553		(4,188)		58,365
Restoration	and	repair			5,454			5,454
Aquisition	ofrolling stock			126,776		(10,404)		116,372
				189,329	5,454	(14,592)		180,191
Total funds				965,480	4,497,583	(3,943,557)		1,519,506

Charity
								Balance at 31
				Balance at 1	Incoming	Resources		December
				January 2021	resources f	expended f	Transfers f	2021 f
Unrestricted	funds
General
General Funds				1,351,371	2,007,691	(2,014,137)	(150,000)	1,194,925
Designated
Locomotive	refurbishment		reserve				150,000	150,000
Total unrestricted		funds		1,351,371	2,007,691	(2,014,137)		1,344,925
Restricted funds
Education				62,553		(4,188)		58,365
Restoration	and	repair			5,454			5,454
Aquisition	of rolling stock			126,776		(10,404)		116,372
				189,329	5,454	(14,592)		180,191
Totalfunds				1,540,700	2,013,145	(2,028,729)		1,525,116

Group
						Total funds at
			Unrestricted	funds	Restricted	31	December
			General	Designated	funds		2021
			f	f	f		f
Tangible		fixed assets	4,589,123		174,737		4,763,860
Current	assets		1,383,615	150,000	5,452		1,539,067
Current	liabilities		(1,067,953)			(1,067,953)
Creditors		over 1year	(3,255,468)			(3,255,468)
Provisions			(460,000)				(460,000)
Total net		assets	1,189,317	150,000	180,189		1,519,506
				Unrestricted		Total funds at
				funds	Restricted	31	December
				General	funds		2020
				f	f		f
Tangible		fixed assets		4,725,347	189,329		4,914,676
Current	assets			963,784			963,784
Current	liabilities			(1,351,715)		(1,351,715)
Creditors		over 1year		(3,561,264)		(3,561,264)
Totalnet		assets		776,152	189,329		965,481
Charity
						Total funds at
			Unrestricted	funds	Restricted	31	December
			General	Designated	funds		2021
			f	f	f		f
Tangible		fixed assets	4,544,606		174,737		4,719,343
Fixed asset investments			1				1
Current assets			724,836	150,000	5,452		880,288
Current	liabilities		(359,048)				(359,048)
Creditors		over 1year	(3,255,468)			(3,255,468)
Provisions			(460,000)				(460,000)
Total net		assets	1,194,927	150,000	180,189		1,525,116

FOR T	HE YEAR ENDED 31DEC	EMBER 2021
		Unrestricted		Total funds at
		funds	Restricted	31December
		General	funds	2020
		f	f	f
Tangible	fixed assets	4,691,615	189,329	4,880,944
Fixed asset investments		1		1
Current	assets	761,778		761,778
Current	liabilities	(540,759)		(540,759)
Creditors	over 1year	(3,561,264)		(3,561,264)
Total net assets		1,351,371	189,329	1,540,700
26 Analysis of net funds
Group
				At 31
		At 1January	Financing	December
		2021	cash flows	2021
		f	f	f
Cash at bank and in hand		250,105	885,252	1,135,357
Net debt		250,105	885,252	1,135,357
				At 31
		At 1January	Financing	December
		2020	cash flows	2020
		f	f	f
Cash at bank and in hand		288,783	(38,678)	250,105
Net debt		288,783	(38,678)	250,105